MFA Blog

One of the morning roundtable breakout sessions at MFA’s Compliance 2014 focused on the regulatory background and compliance challenges for trading on swap execution facilities (SEFs). SEFs are CFTC-registered electronic trading platforms for executing swaps that are “made available to trade” (MAT). Discussion leaders shared their insights and trading experiences by discussing what has happened in the SEF trading landscape since mid-February, when certain interest rate swaps and index CDS became MAT and thus subject to the CFTC’s trade execution requirement. They also discussed their views on how the competitive SEF landscape is evolving.